STEPHEN JENNINGS,FRANCES HOLLIDAY, PIUS MBUGUA NGUGI,FRANK MOSIER & CHRISTOPHER BARRON V. TATU CITY LIMITED,KOFINAF COMPANY LIMITED, NAHASHON NGIGE NYAGAH , VIMALKUMAR BHIMJI DEPAR SHAH , HANS JOCHUM HORN & ANTHONY NJOROGE

JUDGMENT OF THE COURT

The following statement by this Court (Waki, Nambuye and Kiage, JJA) in their decision of 22nd day of September, 2017 in Tatu City Limited and 3 others v. Stephen Jennings and 6 others, Civil Appeal No. 259 of 2015 summarizes the unfortunate situation of a project that was intended to redefine the scale of urban development in Kenya and significantly de-congest the City of Nairobi. The Court said;

“The Tatu City project was a grand and noble investment idea. But it is now mired in the ignominy of Boardroom and Shareholder wars, mostly fought in court rooms and the airwaves. The matter before us is just one other battle front that can only lead to a temporary ceasefire as the main battle awaits the parties before the High Court....Surrounding the dispute is an intricate web of relationships between the parties stretching from Kiambu through Cyprus to Mauritius, but the kernel of it, similarly intricate, is an offshore loan transaction which appears to defy clarity”.

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